For the third straight year, the Middle East and North Africa (MENA) region has enjoyed a spectacular year of economic growth. With oil prices continuing their upward climb, MENA countries grew by an average of 6 percent over 2005, led by the region's predominant oil exporters. Over the last three years, MENA's economic growth has been the strongest experienced by the region since the 1970s. But MENA's growth upturn has not been universally shared, and with rising energy use and diminished positive transmission channels from the region's oil economies, resource poor economies are increasingly feeling adverse impacts from rising oil prices. Moreover, the region is contending with large fiscal implications from the heavy reliance on domestic energy subsidies.